Gold is currently retracing from a key daily horizontal resistance.
Here are important structures to watch.
Horizontal Structures
Support 1: 3350 - 3377 area
Support 2: 3310 - 3324 area
Support 3: 3282 - 3301 area
Support 4: 3245 - 3374 area
Resistance 1: 3431 - 3451 area
Resistance 2: 3493 - 3500 area
Vertical Structures
Vertical Support 1: rising trend line
Vertical and Horizontal Supports 1 compose a contracting demand zone.
Probabilities are high the price will pull back from that.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.